Ion Breakup Could Come in Weeks

MELBOURNE, Australia -- The breakup of Australian automotive-components producer Ion Ltd. could begin within weeks as administrators disclosed the company's expansion budget had blown out by 200 million Australian dollars (US$155 million).

The collapse of the company, which makes transmissions and alloy wheel hubs for some of the world's biggest car makers, has also raised concerns over the future of a A$400 million engine project by the Australian unit of General Motors Corp. Ion is also is a key supplier of cast alloy wheels...